The day's price movements

rblong2us

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Thanks Jim.

Its not a refresh thing. I dont leave tabs open due to a poor internet service and a very slow computer but visited PMB to check out comments a few times over the last few days and wondered why there was no obvious price movement so its probably to do with my old laptop not getting shut down, just left on standby for a few days .......

A total shutdown and a cold start has it displaying current prices again.
 

pmbug

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Oh.. also, going back to what Trader Dan said (post #138) about GLD inventory being a leading indicator for gold trading... GLD has been adding gold for the last couple of days (per Harvey Organ).

July 8: 2.09 tons
July 7: 1.8 tons

We'll see if this continues ...
 

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The monthly MACD on both gold and silver are now firmly on buy signals. Gold was on a sell since January of 2012. Silver has been since September of 2011.

GDX has been on a monthly buy signal since March 2014. Went on it's last sell in June 2011.

GDXJ went on a monthly buy signal in January 2014. I can't find any monthly sell signals since it's not old enough.

So basically.. the order in which I would expect leadership is as follows..

GDXJ
GDX
Silver
Gold

I wouldn't put as much stock in GDXJ as an indicator since we don't have as much data though.
 

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I'll find it very ironic if what gets this market to finally "give up the ghost" is the Holy Ghost (Espirito Santo).

http://www.zerohedge.com/news/2014-...urges-europe-broken-again-espirito-santo-halt

Then things went from bad to worse after Espirito Santo Financial announced it has suspended trading in its shares and bonds due to its exposure to ESI, adding the decision was taken due to “ongoing material difficulties” at its largest shareholder Espirito Santo International, according to regulatory filing. ESFG says it “is currently assessing the financial impact of its exposure to ESI”. ESFG also suspends bond issued by fully owned subsidiary Espirito Santo Financiere. We will have the full, convoluted, org chart of Espirito Santo shortly.
 

pmbug

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Yeah, this looks to be a huge domino. It's causing some huge ripples in markets already.
 

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Yeah, this looks to be a huge domino. It's causing some huge ripples in markets already.
Hehe.. i might have jinxed it as far as the SPY is concerned. Gold is still loving it though.
 

rblong2us

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ok its an old thread but the title seems to cover my interests

So we are seeing some real upward movement in precious metals and in the past we all got excited when this happened, a wave of newbies showed up and we all felt good.

What is different about the current upward movement that no one seems prepared to comment ?

My guess is that the few that remain must be feeling pretty beaten down by 8 years of going nowhere with prices crawling up over time only to get smashed down in after market trading on globex.
I know that I have felt like this at times and pondered where I would be if I had stuck my stash in stocks n shares, or whatever it is that the 'market' sells us but every time I have fallen into this gloom, I have quickly convinced myself that I would be the last to get out ( classic bag holder ) and any theoretical gains would be gone with a good chance of the principal going the same way.
So I default to a feeling of safe n secure even though theres always an 'expert' telling me that just because you are stored in GoldMoney and Bullionvault, doesnt mean the gold or silver is real ........ Cos a safe deposit box in a bank or buried somewhere feels a lot less safe.

Well we finally seem to have a situation where everything is lining up positive for gold n silver and I would see the only negative as the controllers need to hold it back, which makes me feel good and want to share the feel good :wave::cheers:
 

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Yeah, I think investors/speculators are still happy playing with equities and or crypto for short term gains. Central bank intervention is pretty much the only thing people can rely upon any more.
 

rblong2us

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Central bank intervention is pretty much the only thing people can rely upon any more.
as in setting interest rates, or the more sneaky manipulation of markets ?

somehow it feels a bit different at the moment and the expected nock down hasnt yet occurred .......
Continuous gentle movement upwards and $1400 in the rear view mirror ?

In UK£ we are but a good up day away from an all time high in gold and this is without any real drame in the ME .... so far.
 

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With the USA specifically, folks can count on the Fed to prop up the equities market. It seems like, despite whatever rhetoric is published, their only real mandate at the moment is to put an ever rising floor to the US stock market. So, in spite of every fact, indicator or math that tells one that equities are in dangerous territory, money will continue to chase returns there because of the Fed. It will continue working until it doesn't I guess. And when it doesn't, there will be blood.

I am glad to see gold and silver starting to move upwards. I mean, I enjoy buying shiny at a deep discount to what I think they are really worth, but it nags at my sense of right and wrong to see it so low for so long.

On the other hand, if folks like Rickards are right, and the price of gold is actually being depressed by actors like China so they can acquire physical on the cheap, does a rising price indicate that they are nearing the end of their accumulation goals? And if so, could major changes in the global financial order be closer on the horizon than we think?
 

rblong2us

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24 August 2011 all time high in £ sterling - £ 1132.10

2 July 2019 new all time high in £ sterling - £ 1138.63
which probably triggered a few sell orders and didnt hold for long )-:

these numbers are according to the Bullionvault price chart https://www.bullionvault.com/gold-price-chart.do

Why thats only 8 years for breakeven, if you dont include purchase, storage and insurance costs ..........

Yay !

now what ?
 

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Trump is pressuring the Fed to cut rates and weaken the dollar. Should give gold a boost, right? We'll see.

Meanwhile, foreign central banks (China, Poland, et. al.) are still reporting accumulations of gold.

... Swiss Bank UBS ... sees the potential for the price to rise as high as $1,580 by the end of next year. That's around 14% higher than its current price.

Recent Heavy Buying

Late last month saw some extremely heavy buying in the gold market that likely came from multiple sophisticated investors.

What we know is that the holdings of the SPDR Gold Shares ETF jumped by 34.93 metric tons, or more than 1.1 million troy ounces, on June 21. The increase, which was worth almost $1.6 billion, represented an increase of approximately 5% in the holdings of the fund.

While these figures might seem relatively small for other parts of the financial market, they are enormous when it comes to bullion, meaning it was likely the result of multiple buyers.

"It's huge and very significant," George Milling-Stanley, head of gold strategy at State Street Global Advisors, told TheStreet. "I believe there were a lot of different buyers that day."

He says the June 21 increase in holdings of the fund was one of the "largest creation days we've ever seen" and that "people who are buying gold at this level are probably smart."

In other words, the buying wasn't the result of small-time day traders jumping into the market.
...
https://www.thestreet.com/investing/why-the-gold-rally-is-set-to-run-15006116
 

rblong2us

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:judge: I thoroughly approve of todays price movements in silver and gold:cheers::clap::wave:

Long may it continue
 

pmbug

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Yeah, China's move to devalue the Yuan is definitely adding more fuel to the fire that was already burning on lowering interest rates.
 
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